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The campaign 'BlackRock's Big Problem' targets CEO Larry Fink for failing to "walk the talk" on climate action
An environmental campaign has criticised BlackRock for allegedly being the "largest owner of fossil fuel companies and single largest contributor to climate destruction", and singled out CEO Larry Fink as failing to manage the business in line with his own expectations of stocks the firm invests in.
'BlackRock's Big Problem', which is a collaboration between leading climate and human rights organisations, including Amazon Watch, Friends of the Earth, and the Sierra Club, has demanded BlackRock, which has $6.3trn in AUM, stops "investing in climate destruction", via its investment in fossil fuels. Campaigners are taking part in a demonstration in New York today (26 September) for Climate Week where they will gather outside the Bloomberg Global Business Forum and argue BlackRock is one of the largest investors in oil and gas companies, the largest investor in new coal plant developmen...
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